C483 Questions and Correct Answers/ Latest Update / Already Graded

1 | Page



C483 Questions and Correct Answers/
Latest Update / Already Graded
Chapter 1


Ans:




SWOT analysis


Ans: a planning tool used to analyze an organization's strengths,

weaknesses, opportunities, and threats




Situational Analysis


Ans: A process planners use, within time and resource constraints, to

gather, interpret, and summarize all information relevant to the planning

issue under consideration.




core capability

,2 | Page

Ans: a unique skill and/or knowledge an organization possesses that gives

it an edge over competitors




mission


Ans: An organization's basic purpose and scope of operations.




Strategic Vision


Ans: the long-term direction and strategic intent of a company




strategy


Ans: A pattern of actions and resource allocations designed to achieve

the organization's goals.




tactical planning

, 3 | Page

Ans: A set of procedures for translating broad strategic goals and plans

into specific goals and plans that are relevant to a distinct portion of the

organization, such as functional areas like customer service or human

resources.




differentiation strategy


Ans: A strategy an organization uses to build competitive advantage by

being unique in its industry or market segment along one or more

dimensions.




Concentration Strategy


Ans: A strategy an organization uses to operate a single business and

compete in a single industry.




Strategic management six major components